Nice break of the local structure level and retest. A reversal trade will never get a perfect than this.
Have a look at the minor support level, the way price actions reject this level shows that there is some buying momentum was there and at the same time RSI also show an oversold and divergence suggesting lack of selling pressure.
Since all of these...
Look at the strong uptrend on EURJPY. It is strong and constantly makes a series of higher highs followed by higher lows. Finding a profitable trend reversal in these kinds of strong market conditions is hard and at the same time, it is much riskier as well.
Therefore we should be careful in these kinds of market conditions.
Now according to the above chart, you...
At a glance, you can see that this is a breakeven trade and the process we followed to identify this reversal trade is totally identical to the other trades.
Even though the process was the same, we cannot expect every trade to work in our favour. In trading, it is all about adapt our self to the randomness of the market.
Now have a look at the above chart,...
According to the above chart, you can see that the EURUSD started to slow as the price approached the Daily Resistance level. The Ascending channel shows the lack of bullish momentum around the daily resistance level and RSI overbought and divergence even confirm that the buyers are running out of control and the possibility of the trend is much higher.
Pair - FX:USDCHF
Trade Idea - Looking for go short
Both moving averages are showing strong downtrend.
Price just completed the Touch of the initial D-Res Zone.
Break Below would be a great signal for go short.
Stay tuned with this trade idea for more updates.
Pair - FX:USDJPY
Trade Idea - Looking for Go short
First and foremost, both the 100 and 200 MA's are signalling a downtrend because they are both sloping down and the smaller MA is below the longer MA. That is to say, the market is in our favor.
Next, as shown in the chart, price completed the initial touch of the D-Res, indicating that we should look for a...
Price is trading around daily support level
An inverse head and shoulders pattern at the daily support level indicates the lack of selling pressure
RSI divergence confirms the lack of bearish momentum
At the moment all the trading confluence align at the same support level which comes from the daily chart. If we price...
Price is at 4-Hour Support Level
Price Broke Below the Local Structure Level But The Downtrend failed to Continue and Right Now Price Immediately and Strongly Pushing Back to Local Structure Level and If Price Break Above the Local Structure Level, It is a clear Indication That Telling the Ongoing Downtrend In Invalidated.
Price is at 4-Hours Structure Level
Head and Shoulders Pattern indicate lack of buying pressure
Minor Trendline is broken
We will consider going short if price break below the local structure level (Blue zone) and looking to enter the trade on a retest of the local structure level targeting 1.06528...
Price is at a Support Level Which Comes from 4 Hour Chart.
An Inverted Head and Shoulders Pattern indicate the lack of selling pressure
Bullish Engulfing and Bullish Pin Bar indicate the buying pressure that builds on CADJPY
We will look for a break above the local structure level marked in the...
Price is at Daily Resistance Level
Head and Shoulder Pattern at the Daily Resistance indicate lack of Buying Pressure
A Rising Channel After a Strong Bullish Momentum Indicate that on-going Momentum is Fading
Consider Going Short if Price Break Below the Local Structure Level Marked In the...
FX:EURUSD Trend Reversal Trade
RSI Overbought on 4 Hour (This is very significant - Check out Trade revenue pro blog for why)
RSI shows divergence on the 1-Hour chart
Price is at the previous HL if this level broke the whole trend is going to invalidate.
Price reject 4-Hour Resistance Level
Price Starts to Creat Lower Highs
Price Broke Minor Trend Line
Trade Idea - Consider going short if price broke below the local structure level and retest it successfully.
Trade Analysis from Trade Revenue Pro
Daily Support – Right now EURJPY is trading near the daily support level at 116.75 which was tested in multiple times in previously.
Inverse Head and Shoulders Pattern – As this minor trend met the daily support it shows some weaknesses to break below this level. As a result, price starts forming an inverse head and shoulder pattern at the support.